Swiss cracking down on attempts to evade Russian sanctions

Switzerland cracks down on Russian sanctions evasion

Switzerland is ramping up efforts to prevent companies and individuals from using the country to circumvent sanctions imposed against Russia, Reuters reported on Feb. 21.Despite its long-standing policy of neutrality, the Alpine country has joined the international sanctions imposed against Russia over its invasion of Ukraine and provided Kyiv with humanitarian, political, and economic aid.Switzerland's State Secretariat for Economic Affairs (SE…

Swiss cracking down on attempts to evade Russian sanctions

ZURICH (Reuters) – Switzerland is increasing its efforts to crack down on companies and individuals who are using the neutral country to circumvent sanctions imposed on Russia. The State Secretariat for Economic Affairs (SECO) has set up a specialist team to investigate and enforce sanctions which Bern imposed following Moscow’s invasion of Ukraine two years ago. The move comes after Switzerland last year came under fire for not doing enough…